Credit & Debt
Recent college graduates are more in debt than ever before. When you combine substantial credit card debt with crippling student loan payments, it may look like that financially secure future is moving farther and farther away. With this as the new normal, many young adults are now looking into bankruptcy and asking, "Am I too young to file?" The quick answer is, "No." The long answer involves a little more info.
Finding a long-term partner, a boyfriend, girlfriend or spouse can be a long and challenging road. If you've managed to snag that special someone only to discover that his or her credit history is less than stellar, while you may be tempted to overlook it, don't.
At some point during college you may have pictured yourself graduating, snagging a job and moving into a fabulous apartment where you'd be free to continue the independent lifestyle to which you've grown accustomed. But if you're now among the scores of recent college grads who find they are moving into their childhood bedroom rather than their dream apartment, take comfort in the fact that you're not alone.
Remember those library books you keep meaning to bring back? Well, they may be costing you, and not just the small fine the library charges. In fact, they may be costing you a shot at a new car, your own house or even some job opportunities. Those overdue library books just may hit you where it hurts -- in your credit score.
We won't be surprised if you haven't heard these stories in the media, but they're important because they impact our young, thin wallets.
I am a screenwriter and comedian, and all I want is a career in entertainment.
It’s a scenario many of us have faced: A friend comes to you and admits to being short on money, and before you know it, what started out as a venting sessions quickly turns into a plea for a loan. While it’s noble to want to help a friend in need, answer these questions.
What's your friend’s history with money?
After the coldest winter in decades, my house was worse for wear. The frigid temperatures caused my flagstone front porch steps to crumble and my retaining wall to collapse. While a lot of homeowners would have paid for the renovations by adding them to their mortgage, I was able to pay without going into debt.
Establishing an emergency fund
I love my debit card--everything about it. Between the comfort it provides me to its ability of keeping my spending in check, there is nothing not to love. As I entered the real world, however, I was confronted with both a devastating and terrifying truth: I needed to get a credit card. Even though I knew this day would come, I still had many suspicious about this new, unknown card.
Knowing the components that make up a credit score is one thing but actually understanding the specific activities that impact each component is the only way you'll improve your score.
Payment history: 35%